The culminating experience in financial planning that will include a review and expansion of the overall financial planning process, with a comprehensive client financial planning case. Trusts, insurance, estate planning and taxation issues are discussed.

Detailed Description of Content of Course

Review of the overall financial planning process.

Satisfying liquidity needs.

Powers of appointments and their implications for the client.

Trusts

Types of Trusts

Taxation Issues

Qualified Interest Trusts

Charitable giving.

Use of life insurance in estate planning.

Valuation issues.

Marital deductions.

Deferral and minimization of estate taxes.

Intra-family transfers.

Business transfer techniques.

Disposition of the estate.

Generation-skipping transfer tax.

Fiduciary responsibilities.

Income in respect of a decedent (IRD)

Monetary settlement planning.

Detailed Description of Conduct of Course

The course will be conducted in a lecture/discussion format. Financial planning problems will be used throughout the course. These problems will require calculator or computer usage and data input, manipulation, and interpretation.

Goals and Objectives of the Course

At the conclusion of the course the student should be able to:

1. Implement the financial planning process, while following CFP Board's Code of Ethics and Professional Responsibility and Financial Planning Practice Standards.

2. Understand and be able to explain to clients, the overall financial planning process.

3. Determine liquidity needs of clients under various financial plans.

4. Understand the use of trusts as a financial planning tool, including the taxation implications of using trusts.

5. Understand the need for and use of insurance, including life insurance, in the financial planning process.

6. Know how to minimize estate taxes and how to most effectively plan and implement intra-family transfers.

7. Recognize, respect, and be able to explain, one's fiduciary responsibilities to one's clients.

Assessment Measures

Students will be assessed through the use of some combination of exams, class projects, problems and assignments, term papers, and class participation.